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Being a real estate agent can sometimes feel like you're just banging your head against the wall all day.
....
It's business. It's not personal.
Oh I know. I simply told buyer agent to look at the comps.
I considered it a lowball offer because the $1.24 price gets you a lot less house or land in the neighborhood, and we were already priced below market. House is turnkey too.
Quote:
Originally Posted by Lacerta
My favorite is when you have a house that has things wrong with it, so you price it accordingly. Then the buyer wants a discount based on all the things that are wrong with it.
Especially when the listing already says something like "priced $50k under comps because of needed TLC".
Also, when a buyer comes right out and says "I want to buy it for a deal, so I can turn around and sell it and make a profit". Wow, really? So you admit it is worth what I'm selling it for, but you want me to sell it to you for less, so you can make the profit instead. That takes some real stupidity to admit it.
That's exactly what I had here. Buyer couldn't get the financing, and wanted seller to give a big discount so buyer could make a bigger profit on the flip. $160,000 is still $160,000, even if it is just 11%.
Go find another house you can get financing for.
My favorite is when you have a house that has things wrong with it, so you price it accordingly. Then the buyer wants a discount based on all the things that are wrong with it.
Duh, if it didn't need a new roof, new carpet, new paint, and updating, it would have been priced $50k higher to start with, like the comps that have had that work done. You don't get a double discount people, do your research before making yourself look like an idiot.
Especially when the listing already says something like "priced $50k under comps because of needed TLC".
Also, when a buyer comes right out and says "I want to buy it for a deal, so I can turn around and sell it and make a profit". Wow, really? So you admit it is worth what I'm selling it for, but you want me to sell it to you for less, so you can make the profit instead. That takes some real stupidity to admit it.
Come on now. It's human nature. If you're gonna take off 50k what's another 10k
The response seems rather obvious, even though you haven't stated the issue clearly (sounds like the Buyer's max approval is $1.24MM price):
"I am sorry. We appreciate the offer and that your Buyer would like to make this his/her home. The lowest my Seller is prepared to accept right now is $1,350,000."
and let the other agent deal with it. 11% is not a low-ball unless you've had lots of showings and interest and been on the market less than 21 days.
Let's cut to the chase here.
There is only 1 reason for a lowball offer: I want a lower price and I hope the seller agrees.
All vocalized reasons are pure bullƨhit.
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